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|MAN SE Information|
MAN SE formerly MAN AG, is a German mechanical engineering company and parent company of the MAN Group. MAN SE is based in Munich. Its primary output is for the automotive industry, particularly heavy trucks. Further activities include the production of diesel engines for various applications, like marine propulsion, and also turbomachinery.
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In July 2011, Volkswagen AG acquired a 55.9% voting stake and 53.7% of the share capital in MAN SE. Pending regulatory approval, Volkswagen planned to merge MAN and Scania to create Europe's largest truckmaker. The combined trucks group is planned to save about 400 million euros per year, mainly by bundling procurement. Regulatory approval was granted, and the takeover completed, in November 2011.